Barclays Global Investors Canada announced the launch of this country’s first socially responsible exchange traded fund(ETF), in partnership with Jantzi Research. The fund seeks to provide exposure to companies that have positive environmental, social, and governance attributes. It will track the Jantzi Social Index, a socially screened, market capitalization-weighted common stock index consisting of 60 […]
Sarbit Asset Management has chosen State Street and IFDS Canada to provide custody, fund accounting and transfer agency services for $125 million in assets. “We were impressed by the comprehensive solution, supported by leading edge technology and an extraordinary commitment to service that State Street and IFDS offered,” says Terry Baxter, chief financial officer at […]
DaimlerChrysler will shed about US$18 billion in pension and healthcare obligations by selling a majority interest in Chrysler. An affiliate of private equity firm Cerberus Capital Management will make a capital contribution of $7.4 billion in return for an 80.1% stake in Chrysler. DaimlerChrysler will own the remaining interest and also change its name to […]
Barclays Global Investors Canada has recently introduced its new lifecycle funds. “LifePath Portfolios are a good option for companies whose employees have limited investment experience and also those who may be investment savvy,” says Cary Blake, the company’s head of global indexes & market groups Canada. Each fund is index-based, broadly diversified and designed for […]
RBC Dexia Investor Services has been ranked No.1 overall in the Global Investor 2007 Global Custody Survey—for an unprecedented fourth consecutive year. The survey is based on feedback from institutional investors about the quality of service they receive from their global custodians. “We are absolutely delighted that our clients have voted us the world’s top […]
Funds advised by OMERS Capital Partners and Apax Partners have agreed to buy a couple of Thomson Corp. units for $8.63 billion in cash. Nelson Canada, a provider of books and online resources for the educational market in this country, will be majority owned by OMERS. The funds are also acquiring Thomson’s higher education, careers […]
Newfoundland and Labrador has introduced legislative changes that will protect assets held in capital accumulation plans from being seized by a plan holder’s creditors, says a Mercer Communiqué. This legislation is effective April 5, 2007. “Under the new rules, assets held in a DPSP, RRSP, or RRIF will be protected against seizure by a plan […]
The Public Sector Pension Investment Board has dropped out of the consortium bidding for BCE, according to a newspaper report. The Globe and Mail reports that the Ottawa-based fund was expected to contribute a few hundred million dollars of the expected $5.5 billion the group needs to buy the telecom company. The vying for BCE […]
Fewer chief financial officers and vice-presidents of human resources believe that the pension funding crisis in Canada will be long-lasting, according to a survey. The survey on pension risk, conducted by Watson Wyatt in association The Conference Board of Canada, found that the percentage of CFOs who feel the pension crisis will last a long […]
The Ontario Teachers’ Pension Plan has a new partner involved in Northern Star Generation(NSG), an unregulated electric generation holding company. UBS’s Infrastructure Asset Management(IAM)business has agreed to acquire a 50% stake in the firm from AIG Highstar Generation for an undisclosed sum. “We are excited about acquiring this 50% interest in Northern Star, as it […]